Despite plunging oil prices and a weakened peso, Mexico’s 16 billionaires had nothing to complain about in 2015.

The Forbes billionaire list, which is published annually in March, showed that the group expanded their combined wealth by US$1.6 billion this year, from $142.9 to $144.5 billion. This indicates that they are performing better than in 2014, when their wealth shrunk by four percent, but are still behind the 2013 level of $148.6 billion.

Telecoms magnate Carlos Slim Helu remains the second richest man in the world, behind Microsoft founder Bill Gates. Slim’s wealth grew by US$5.1 billion despite a new anti-monopoly law that introduced some major shifts in the Mexican telecom industry.